South Africa Inflation April 2022

South Africa

South Africa: Inflation holds stable in April

May 18, 2022

Consumer prices increased 0.59% in April over the previous month, below the 0.99% rise recorded in March. April's result marked the weakest reading since January. Looking at the details of the release, the result was largely driven by easing price pressures for transportation. Moreover, prices for alcoholic beverages and tobacco increased at a more subdued pace.

Inflation came in at 5.9% in April, matching March’s result. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 5.4% in April (March: 5.2%). Finally, core inflation rose to 3.9% in April, from the previous month's 3.8%.

FocusEconomics Consensus Forecast panelists see inflation averaging 5.7% in 2022, which is up 0.4 percentage points from last month’s estimate, and 4.7% in 2023.


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South Africa Inflation April 2022

Note: Annual and monthly variation of consumer prices index in %.
Source: Statistics South Africa (Stats SA) and FocusEconomics calculations


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